Abu Dhabi Fund for Development launches $120mn luxury hotel project in Egypt
The Abu Dhabi Fund for Development (ADFD) announced the launch of a luxury hotel project in Egypt, envisaging investments to the tune of $120 million (AED 440 million).
The 5-star hotel project, named 'Sofitel Legend Pyramids Giza', is part of the Abu Dhabi fund's efforts to enhance its strategic investments in the African country.
Abu Dhabi Fund's Egypt luxury hotel project
The hotel project is also aimed at contributing to the development of the hospitality and tourism sector in Egypt and the broader Middle East.
The project, featuring 302 rooms equipped with state-of-the-art amenities and a selection of international restaurants and entertainment facilities, will be financed through a strategic partnership between the private sectors of the UAE and Egypt.
While ADFD will contribute 84.28 per cent of the project's capital through Abu Dhabi Tourism Investment Company (ADTIC), the remaining equity stake will be held by Abu Dhabi National Hotels (10.22 per cent) Overseas Tourism Investment Company (0.4 per cent), Misr Hotels Company (2.73 per cent) and the Egyptian General Company for Tourism & Hotels (2.37 per cent).
Blending rich history with modern luxury, the project promises an exceptional hospitality experience that meets the highest international standards.
Abu Dhabi Tourism Investment Company will partner with Accor Group, a globally renowned hospitality brand, to manage the hotel and ensure excellence in service and guest experience.
Enhancing Egypt's tourism sector
Mohamed Saif Al Suwaidi, Director General of ADFD, said through the partnership with Accor Group, the Fund aims to elevate the tourism industry, while supporting economic and social development in Egypt.
'This investment is a reflection of ADFD's commitment to advancing sustainable development projects and driving investment partnerships that fuel economic growth in partner countries,' he said.
Engineer Adel Al-Najjar, the Governor of Giza, said the project is a model for successful investment collaboration between Egypt and the UAE.
'We look forward to expanding such partnerships to further our sustainable development goals,' he said.
By blending luxury hospitality with Egypt's rich cultural heritage, the Sofitel Legend Pyramids Giza project is expected to strengthen the country's position as a premier global tourist destination.
Its strategic location near iconic landmarks will attract visitors from around the world, creating new investment opportunities and driving the sustainable growth of Egypt's tourism sector.
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